Note – Please take our quiz ‘Quiz 43 – Cash Book – (Answers)‘ on this page before going through the below answers. Only the top 3% of our audience scored 10/10 in all of them.
- Name – Quiz 43 – Cash Book – (Answers)
- Topic – Cash Book
- Answers with Explanation
Q1. In _____ cash book only the cash receipts and cash payments are recorded.
Ans. In simple cash book, only the cash receipts and cash payments are recorded.
Q2. _____ book is both – a subsidiary book and a principal book.
Ans. Cash book is both – a subsidiary book and a principal book.
Q3. Contra entries are passed only when ____ cash book is prepared.
Ans. Contra entries are passed only when three-column cash book is prepared.
Q4. The balance in the petty cash book is a/an _____.
Ans. The balance in the petty cash book is an Asset.
Q5. Discount column of the cash book is never balanced.
Ans. The following statement is True. Discount column is totalled and transferred to the discount allowed or received account.
Q6. Discount column of cash book records _____ discount.
Ans. Discount column of the cash book records cash discounts.
Q7. Transactions in the cash book are recorded in _____ order.
Ans. Transactions in the cash book are recorded in chronological order.
Q8. Cash book is the same as Cash A/c.
Ans. The following statement is False.
Q9. _____ is used for tracking expenses containing minor sums.
Ans. Petty cash book is used for tracking expenses containing minor sums.
Q10. Discount and Cash column book is a type of _____ cash book.
Ans. Discount and Cash column book is a type of two-column book.